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Economic Quotes

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Economic Quotes

“In the distance, I see a frightful storm brewing in the form of un-tethered government debt. I choose the words -“frightful storm' - deliberately to avoid hyperbole. Unless we take steps to deal with it, the long-term fiscal situation of the federal government will be unimaginably more devastating to our economic prosperity than the subprime debacle and the recent debauching of credit markets that we are working right now so hard to correct.”

“I think that the environmental movement is wisely moving away from a largely emotion-based argument for the spiritual or intrinsic value of Nature with a capital "N" and evolving toward a very hard-nosed case for the economic value of natural capital, ecosystem services, biodiversity, etc.”

“The ultimate consequences of the individualist spirit in economic life are those which you yourselves, Venerable Brethren and Beloved Children, see and deplore: Free competition has destroyed itself; economic dictatorship has supplanted the free market; unbridled ambition for power has likewise succeeded greed for gain; all economic life has become tragically hard, inexorable, and cruel.”

“Let’s begin with capitalism, a word that has gone largely out of fashion. The approved reference now is to the market system. This shift minimizes - indeed, deletes - the role of wealth in the economic and social system. And it sheds the adverse connotation going back to Marx. Instead of the owners of capital or their attendants in control, we have the admirably impersonal role of market forces. It would be hard to think of a change in terminology more in the interest of those to whom money accords power. They have now a functional anonymity.”

“In recent years, we've become enamored with our own past success. Lulled into complacency by the glitter of our own achievements. We've become accustomed to the title of Military Superpower, forgetting the qualities that got us there. We've become accustomed to our economic dominance in the world, forgetting that it wasn't reckless deals and get rich quick schemes that got us where we are, but hard work and smart ideas, quality products and wise investments.”

“A nation's exchange rate is the single most important price in its economy; it will influence the entire range of individual prices, imports and exports, and even the level of economic activity. So it is hard for any government to ignore large swings in its exchange rate.”

“The next Prime Minister walking through that door will be me or Labour Party leader Ed Miliband, you can choose an economy that grows, that creates jobs, that generates the money to ensure a properly funded and improving National Health Service ... and a government that will cut taxes for 30 million hard-working people ... or you can choose the economic chaos of Ed Miliband's Britain.”

“We're richer, but that wealth doesn't reflect durable, authentic economic value - which is hitting fast diminishing returns. The growth that we're pursuing is neither sustainable - nor is it, in many ways, real growth at all. Boardrooms from finance to autos to energy to pharma to fashion have learned that the hard way.”

“We fought hard for socialism in a devastating war of independence and reunification. To build an affluent and prosperous society, we chose the path of a socialist market economy. We have achieved strong economic growth, and yet the sense of solidarity in our society has not been lost. This is very important to people.”

“Many of us regard ourselves as mildly liberal or centrist politically, voice fairly pleasant sentiments about our poor children, contribute money to send poor kids to summer camp, feel benevolent. We're not nazis; we're nice people. We read sophisticated books. We go to church. We go to synagogue. Meanwhile, we put other people's children into an economic and environmental death zone. We make it hard for them to get out. We strip the place bare of amenities. And we sit back and say to ourselves, "Well, I hope that they don't kill each other off. But if they do, it's not my fault.”

“When Obama's economic advisers - a greater group of schlemiels would be hard to find - warn that failure to raise the limit will trigger default and horrific consequences for the global economy, Republicans should reply that if this is so, tell it to your president and get him to approve the spending cuts along with the debt-limit increase.”

“The cash register did more for human morality than the Congregational Church. It was a really powerful phenomenon to make an economic system work better, just as, in reverse, a system that can be easily defrauded ruins a civilization. A system that's very hard to defraud, like a cash register, helped the economic performance of a civilization by reducing vice, but very few people within economics talk about it in those terms.”

“Obamacare is the nation's biggest job killer and stands in the way of our country's economic growth and prosperity. It should be defunded and repealed. President Obama should hear the pleas from the untold number of Americans who are losing their jobs, wages, and healthcare plans, and Congress should act immediately to stop Obamacare from inflicting any more damage on the country on our hard-working citizens.”

“I'm not critical of the people who do psychotherapy. The therapists in the trenches have to face an awful lot of the social, political, and economic failures of capitalism. They have to take care of all the rejects and failures. They are sincere and work hard with very little credit, and the HMOs and the pharmaceutical companies and insurance companies are trying to wipe them out. So certainly I am not attacking them. I am attacking the theories of psychotherapy.”

“The politics of grievance is pervasive. It's spreading. And when you have an economy that has been ripped to shreds like this, and when you have more and more people thinking that there's no economic opportunity - that the game is so rigged that the standard recipes of hard work and education, stick-to-itiveness and so forth don't pay off.”